As of January 2019 in world economic and energy news, which country announced that it would withdraw its membership from the Organization of the Petroleum Exporting Countries (OPEC)?

Difficulty: Easy

Correct Answer: Qatar

Explanation:


Introduction / Context:
This question tests awareness of recent world economic and political developments, specifically about the Organization of the Petroleum Exporting Countries, commonly known as OPEC. Member countries sometimes change their membership status for strategic or economic reasons. Knowing which country chose to leave OPEC in January 2019 reflects up to date general knowledge on global energy politics.


Given Data / Assumptions:

  • The question refers to a decision announced for January 2019.
  • The decision is about withdrawing membership from OPEC.
  • We have four possible countries in the options: Kuwait, Iraq, Venezuela, and Qatar.
  • Only one of these actually announced an exit from OPEC effective January 2019.


Concept / Approach:
OPEC is an intergovernmental organization of oil exporting nations that coordinates petroleum policies. Qatar had been a member for several decades but announced that it would leave OPEC from January 2019. The official explanation in public reports emphasised a desire to focus more on natural gas production and independent energy policy. Kuwait, Iraq, and Venezuela are founding or long standing members that did not withdraw at that time, even though they sometimes disagreed on production quotas.


Step-by-Step Solution:
Step 1: Identify the key date in the question, which is January 2019.Step 2: Recall news that a Gulf country announced an exit from OPEC around that time.Step 3: Remember that this country was Qatar, which is also a major exporter of liquefied natural gas.Step 4: Check the options and confirm that Qatar appears as one of the choices.Step 5: Conclude that Qatar is the correct answer and the other three countries remained in OPEC during that period.


Verification / Alternative check:
A quick mental cross check is to think about the traditional OPEC core. Kuwait, Iraq, and Venezuela are well known as long time OPEC members and there was no major announcement in 2019 of their withdrawal. The country that attracted attention for leaving was Qatar, which officially communicated its decision to cease being a member from January 2019 onwards. This aligns with the wording of the question.


Why Other Options Are Wrong:
Kuwait is one of the original Gulf members of OPEC and remained within the group. Iraq has had complex production issues but did not withdraw in 2019. Venezuela has experienced economic and political crisis but stayed an OPEC member. None of these states announced a formal exit effective January 2019, so they do not satisfy the condition mentioned in the question.


Common Pitfalls:
Some learners may confuse Qatar with other Gulf producers like Kuwait or may think of Venezuela because of frequent news related to its oil crisis. Another error is to assume that a country facing economic troubles must have left OPEC, which is not automatically true. Keeping track of a few key recent OPEC decisions helps avoid such guessing mistakes.


Final Answer:
The country that decided to withdraw its membership from OPEC with effect from January 2019 is Qatar.

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